The decision to terminate mutual activities was announced last month and came into effect as of 31 December 2012; the company will be dissolved on 31 January 2013.

Members of the pan-European alliance include Crewe-based Medica Packaging, part of the Benson Group, as well as Tullamore, Ireland-based Zannini Ireland.

Other members included Zannini's Italian parent company Palladio Zannini and its Serbian sister company Zannini East, as well as Germany's August Faller and Spain's Cartonajes Pans and Cartonplex.

Toronto, Canada-based Bellwyck was an associate member.

In a brief joint statement, the alliance said: "The members no longer see value in acting on the pharmaceutical market as an alliance, reflecting tough economic marketing conditions. Previous member companies will continue to operate independently."